The historic Neiman Marcus store in downtown Dallas will officially close its doors this fall after months of speculation.
The Dallas-based company, which was acquired by Saks Global in 2024, will close the location at the end of September and turn its focus to its NorthPark Center location, the Dallas Morning News reports.
The flagship store has served as a luxury fashion beacon in the central business district landscape for over 100 years. The move comes as the luxury retail conglomerate undergoes a bankruptcy process.
Saks Global filed for Chapter 11 bankruptcy protection in January amid rising competition and substantial company debt following the roughly $2.7 billion purchase of Neiman Marcus.
While a May 26 filing indicated intent to retain the downtown lease, company CEO Geoffroy van Raemdonck said the decision to close is final.
“The rationale is really we’ve looked at multiple criteria, but it’s mostly the criteria of what are the customer preferences and where is demand, and what we see is that there’s a shift in the retail map in Dallas," he told the Dallas Morning News.
The downtown store is one of several stores set to close across the country as the company undergoes a restructuring process.
Van Raemdonck said that the location was no longer profitable, with declining sales in 2025.
A lease dispute between the company and city officials first threatened to close the location in March 2025 before the parties announced the store would remain open through the 2025 holiday shopping season. Until today, its future remained uncertain.
The planned closure is the latest in a series of blows to the downtown business landscape with the planned exits of AT&T, Fifth Third Bank, and the NBA’s Dallas Mavericks from the area.
Dallas leaders had long been involved in negotiations with Saks Global to keep the flagship operating. While the city is disappointed with the decision to close the historic location, a “cornerstone” to the central business district for over a century, they plan to continue partnership with the retail conglomerate, City Manager Kimberly Bizor Tolbert said in a statement Tuesday.
“We want to acknowledge the open conversations we have had with the leadership of Saks Global over the past two years as they evaluated their options for the future of this iconic property,” Bizor Tolbert said. “Those discussions reflected our shared recognition of the store’s importance to Dallas. While this decision is not the outcome we worked toward, the City will continue to partner with Saks Global as they invest in the transformation of the NorthPark store.”
The future of the historic downtown building is currently unclear, the Dallas Morning News reports. However, Neiman Marcus plans to incorporate elements of the store’s legacy into the NorthPark Center location, like its dining option The Zodiac Room.
Affected employees who qualify will be offered transfer opportunities and separation packages where possible, the company said.
This story has been updated with a statement from the City of Dallas.
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